Word: sumitomo
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Yasuo Hamanaka Sumitomo Bank?s chief copper trader racked up losses of $2.6 billion in unauthorized deals over 10 years. He pleaded guilty to forgery and fraud, and is serving eight years in a Japanese prison...
...saga began in 1978, when Bayly, then 21 and a ballet student, met Yukawa, a London-based executive for Sumitomo Bank. They fell in love, though Yukawa, then 49, had two grown sons and a wife, who was confined to a hospital with brain damage after a car accident. When Yukawa was reassigned to Tokyo, he brought along Bayly and their newborn daughter Cassie...
...Most of all, perhaps, Barshefsky was optimistic on account of the widespread consensus that renewed economic growth is vital to the region - and that free trade is the best and fastest way to that growth. This view got strong endorsement from Andrés Velasco, Sumitomo professor of international finance and development at Harvard's John F. Kennedy School of Government and a former adviser to Chile in free-trade talks with the U.S. "Growth is the key question facing Latin America today," Velasco said. Analyzing the ways that developing nations could achieve more rapid growth, he said a "great...
...years. Once unthinkable, the idea that foreigners might "save" Japanese companies is becoming commonplace. Witness Merrill Lynch and its absorption of Yamaichi Securities, or General Electric Capital Corp. and its $6.5 billion takeover of one of Japan's biggest leasing companies. Or Goodyear's bid to control Sumitomo Rubber Industries. If it is shameful to be acquired by foreigners, at least Nissan president Hanawa is far from alone...
...companies like U.S. Steel and Phelps Dodge, which faced withering competition from abroad. At the same time though, U.S. household brands like Gillette and Nike held sway at home and won new markets abroad. No matter how tough the Japanese competed, you never wore Mitsubishi sneakers or shaved with Sumitomo blades. The top U.S. consumer brands showed consistent growth year after year...